4.3. IT PROJECT PORTFOLIO
Overview
The Project Management Institute (PMI) defines a project as a temporary endeavor undertaken to create a unique product or service.[] Projects make change happen. In many instances, projects are the vehicle by which an enterprise evolves into its business vision and manifests its strategy. Project management controls the change to improve the probability of success.
[] PMBOK 1996 edition. Project Management Body of Knowledge, Project Management Institute, 1996.
The IT project portfolio is a framework used to assess potential IT project candidates against a defined set of weighted, multidimensional criteria that maintain alignment with business and strategic objectives, assuring that only projects that significantly contribute to sustained business success will be funded. Selecting the right projects based on criteria other than the single dimension of costs versus benefits, or simple financial calculations, is vital to supporting growth and transformation. The gatekeepers for the IT project portfolio develop, assess, and weigh criteria to evaluate each investment. Examples of criteria might include term of the investment, risk, duration, costs, scope, posture (offensive versus defensive), and life cycle.
Figure 4.11. PROJECT INITIATION FORM
Elements of the IT Project Phase[]
[] The content for the text (not the exhibits) shown in gate and stage ...
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